The landed cost of imported petrol has climbed above the price of Dangote refinery’s product, strengthening arguments for Nigeria to stop fuel imports and rely on local refining. According to the latest Energy Bulletin from the Major Energies Marketers Association of Nigeria, imported petrol cost N1,223.32 per litre as of July 29, higher than Dangote’s…
Seplat Energy Plc has agreed to sell a 10 per cent interest in the NNPCL-SEPNU Joint Venture to the Nigerian National Petroleum Company Limited for $281.6m. The company says the deal will boost shareholder returns and strengthen its balance sheet. Seplat disclosed the transaction on Thursday in its unaudited financial results for the six months…
The Federal Government has removed import duty and Value Added Tax on cooking gas, compressed natural gas and electric vehicles to boost cleaner energy adoption. The Nigeria Customs Service announced the tax incentives on Thursday, July 30, 2026, under the Presidential Gas for Growth Initiative. The policy is expected to lower the cost of bringing…
Top U.S. oil producers ExxonMobil and Chevron have warned that global supplies of diesel and other refined products will likely remain tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions. Both companies reported large jumps in second-quarter refining profits on…
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and Governor Siminalayi Fubara have inaugurated a state-of-the-art Specialty Protective Coatings and Paints Manufacturing Plant built by an indigenous company, ‘Solewant Group’ in Rivers State. This is as Lokpobiri described the investment as a milestone in Nigeria’s industrialisation drive and local content development. The facility,…
Dangote Petroleum Refinery has launched the first phase of a free petrol delivery programme covering six Nigerian states. Marketers purchasing a minimum of 250,000 litres qualify for free delivery and a 10-day credit facility under the scheme. The refinery said the six-state rollout is part of its Vision 2030 strategy, with more states to be…
The Lagos State Electricity Regulatory Commission (LASERC) has clarified that its proposed 12-month electricity billing rule will not cancel existing electricity debts owed by consumers. The commission said the rule will only apply after the new Retail Electricity Supply Code takes effect and is meant to ensure electricity companies issue bills within 12 months. LASERC…
Fuel marketers have resumed loading petrol and diesel from private depots across Nigeria after nearly a week of disruptions caused by price adjustments. Depot prices in Lagos climbed to N1,275 per litre on Tuesday, July 22, 2026, as the Dangote refinery’s dollar-pricing policy continued to drive market uncertainty. Chinedu Ukadike, National Publicity Secretary of the…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to hold the commercial bid conference for its 2025 Licensing Round on Tuesday, July 21, 2026, where qualified investors will compete for 50 oil and gas blocks across the country. A total of 143 companies submitted 200 bids after passing the prequalification and technical stages of…
The Nigerian Upstream Petroleum Regulator y Commission (NUPRC) has kicked off the commercial bid phase of its 2025 Oil and Gas Licensing Round, with 143 qualified companies submitting a total of 200 bids for 50 oil and gas blocks across Nigeria’s producing and frontier basins. The commercial bid conference opened on Tuesday, July 21, 2026,…
